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The Market Whisper: Your Weekly Stock Markets Rundown
October 14-18, 2024
thestock whisperers
October 12, 2024
October 14-18, 2024
🇮🇳 End of an Era: India Mourns Ratan Tata
Ratan Naval Tata, a visionary leader and the face of Tata Group, passed away, marking the end of an era in Indian business history. Known for his humility and integrity, Tata led the conglomerate to international prominence. Reports suggest that Noel Tata has been appointed to head Tata Trust, ensuring continuity in the group’s philanthropic endeavors.
📈 Key Market Events: RBI’s Neutral Stance Brings Flexibility
In a pivotal move, the Reserve Bank of India (RBI) shifted its policy stance from the withdrawal of accommodation to neutral, signaling greater flexibility in future policy decisions. This could pave the way for a potential rate cut in the coming months, should both domestic and global conditions warrant it. While the probability of a winter rate cut remains high, the RBI is expected to keep a close watch on inflation data and other economic factors.
Meanwhile, the corporate earnings season is in full swing with TCS leading the charge. Despite Foreign Portfolio Investors (FPIs) remaining in sell mode, potential global developments—especially a stimulus from China—could move markets in the days ahead. Reports suggest China may announce a 2 trillion yuan ($283 billion) fiscal stimulus package over the weekend, which could boost market sentiment.
📅 Important Market Events
Day | Event |
|---|---|
Monday, Oct 14 | 🇮🇳 India CPI Inflation: September inflation data due. August saw a rise to 3.65%. |
🇮🇳 WPI Inflation: India’s wholesale inflation stood at 1.31% in August. September print awaited. | |
Tuesday, Oct 15 | 🚗 Hyundai Motor India IPO: Set to open with a price band of Rs 1,865-1,960 per share. |
📊 Balance of Trade: India’s trade deficit widened to $29.7 billion in August. | |
Wednesday, Oct 16 | 💡 Lakshya Powertech IPO: SME firm opens with a price band of Rs 171-180 per share. |
Thursday, Oct 17 | 🇪🇺 ECB Interest Rate Decision: Possible gradual rate reduction as inflation stays high. |
🇺🇸 US Jobless Claims: Last week’s claims hit a 14-month high, with 258,000 new filings. | |
Friday, Oct 18 | 🇨🇳 China GDP Growth Q3: Expected to show continued softness amid economic headwinds. |
🇮🇳 India Bank Loan Growth: Annual loan growth is expected at 13% for September. |
🌐 Global Economic Updates
China Stimulus Watch: Investors are anticipating up to 2 trillion yuan in fiscal stimulus from China. The measures could help shore up the world's second-largest economy, particularly in light of weak consumption and property sector woes.
ECB's Rate Path: The European Central Bank (ECB) could start considering rate cuts based on incoming data. The ECB expects inflation to return to its 2% target by 2025 but will continue navigating volatile market conditions.
US Jobless Claims Surge: Jobless claims in the US soared to 258,000 in early October, marking the highest level in over a year. This increase was largely driven by Michigan and states affected by Hurricane Helene.
📢 Stay Informed
Get ready for key earnings reports, IPOs, and global economic updates that could shape the markets this week. Keep an eye on Hyundai Motor India’s IPO, India’s CPI/WPI inflation prints, and China’s GDP data, which will be critical indicators for investors.
😊Thank you for subscribing to our Market Wrap-Up Weekly Stock Markets Rundown. Stay tuned for next Saturday.
Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial advice.
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